Ipsen: Oddo BHF raises its target price on the stock

(CercleFinance.com) - Oddo BHF is maintaining its 'neutral' rating on Ipsen shares, with its target price raised from 120 to 125 euros, ahead of the company's earnings release on February 13.


The analyst anticipates Q4 sales of 895 ME (+11%e), (css: 878 ME) or 3388 ME for the full year (+8.3%). We estimate ROC at 1061 ME vs. 1001 ME in 2023, i.e. 31.3% vs. 32% the previous year", says Oddo BHF, which believes that Ipsen should exceed its guidance for the 3rd year running.

Valuation is one of the attractions of the stock, according to the broker, who points out that the recent good price performance is essentially due to expectations for Somatuline in the 2nd half of 2024.

The market is likely to fear a decline in Somatuline sales in 2025, but at the same time, the downside seems limited given the valuation", concludes Oddo BHF.

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